96-8342r
17
RESOLUTION NO. 8342
THE CITY OF RICHFIELD, MINNESOTA
RESOLUTION AUTHORIZING PURCHASE OF REAL PROPERTY
77TH STREET PROJECT -7700 l YNDAlE AVENUE
WHEREAS, the City of Richfield, Minnesota desires to purchase certain real
property pursuant to and in furtherance of the 77th Street Project (Project) heretofore
adopted by the City of Richfield (City) said real property located at 7700 Lyndale
Avenue, Conoco Petroleum, being described as follows:
Lots 1 through 5, Block 1, Strand's Second Addition, Hennepin County; and
WHEREAS, on March 25, 1996, the City did set and approve just compensation
for said real property in the amount of $544,182 which was rejected by owner; and
WHEREAS, consideration has been given to the consequences of setting price
through the condemnation process; and
WHEREAS, the purchase and vacation of this property prior to August 30, 1996
is critical to the success of construction; and
WHEREAS, a Phase I and Phase II environmental evaluation has been
undertaken; and
WHEREAS, the owner has agreed to sign a purchase agreement and vacate the
property by May 31, 1996 for a purchase price of $588,182.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
That the Mayor and City Manager are authorized to execute a purchase
agreement for $588,182 subject to the findings of an environmental evaluation.
Adopted by the City Council of the City of Richfield, Minnesota this 22nd day of
April, 1996.
l??~.J-O~
Martin J. Kirs~ ayo'r
ATTEST:
~p~
Thomas P. Ferber, City Clerk